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The holiday season is once again upon us. With decorations filling our homes and our thoughts turning to friends and loved ones, your finances might be the furthest thing from your mind.
Earlier this morning, Finance Minister Bill Morneau made the announcement that the minimum down payment for houses will increase effective Feb. 15, 2016. To see the full announcement, please watch the video by clicking here.
Brokers – and the industry – will have to wait a little long for the expected rate hike.
“To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4% target range for the federal funds rate remains appropriate,” the Fed said in a release Wednesday afternoon.
Purchasing a home is an exciting life decision. For most Canadians their home is their largest asset. There is more to a home than just a mortgage payment, and being pre-approved will ensure that you’ve taken into account all of the extras that home ownership entails.
Often times people get caught up in the excitement of purchasing a home that they forget to determine what they qualify for. Qualifying for a mortgage is an easy and essential step to ensure that you are looking in the right direction. Over extending your finances will leave you mortgage poor and unable to accommodate life’s unforeseen expenses.
Tax filing season is here and that means doing everything you can to make the most of your income tax and benefit return. If you've made a donation to a registered charity or other qualified donee and received an official donation receipt, you could be eligible for the charitable donation tax credit.
A forecast from CIBC World Markets predicts that the bank of Canada will make a further 0.25 per cent cut to interest rates in March despite the current weakness of the Canadian dollar. Chief economist Avery Shenfield says that growth will be lower than 2 per cent this year and sees the loonie falling to 77 cents US and not recovering too much above 80 cents US.
(Bloomberg) -- Canadian Finance Minister Joe Oliver said he won’t pressure the nation’s banks to follow the Bank of Canada’s latest interest-rate cut, or take steps to influence the housing market.
“I do not intend to interfere with the day-to-day operations of the banks,” Oliver said in an e-mailed statement Thursday. “I have no current plans to introduce new rules regarding residential mortgages.”
The My Better Mortgage team loves to get involved in community events, especially when they are for a great cause! On April 1st, we will be participating in the Big Brothers Big Sisters Bowl for Kids’ Sake at the Barrie Bowlerama. This fundraising event will be a lot of fun, but more importantly, it will help make a difference for local youngsters. We look forward to lacing up our bowling shoes and supporting the mentorship programs at Big Brothers Big Sisters- Barrie and District!
Stay tuned for more information about how you can make a pledge!
